Crypto.com, the fastest growing crypto platform with over 10 million users worldwide, has been contracted as the lead partner for F1's upcoming Sprint Qualifying events.
F1 will trial the novel concept at three venues this season starting next month at Silverstone, where drivers will compete in a short 100-km race on Saturday afternoon that will serve to determine the grid order for Sunday's race.
The approach aims to boost the interest of the F1 fan community as well as broadcasters' ratings, and the potential additional exposure has enticed Crypto.com to jump on board as a leading partner, but also as global partner for F&.
As part of its commercial deal with the sport, Crypto.com become the Official Cryptocurrency Sponsor and NFT Partner of F1, enjoying trackside presence at every race for the remainder of the 2021 season.
"We are thrilled to announce Crypto.com as a Global Partner and lead partner of the Sprint event as we bring this exciting new format to fans for the first time this year," commented Ben Pincus, F1's director of commercial partnerships.
"We will rely heavily on their expertise as we explore the world of cryptocurrency, an area we are very interested in, and this will be the first time as a sport we are able to offer fans the opportunity to explore this exciting world as we further increase our digital presence."
Kris Marszalek, co-Founder and CEO of Crypto.com, said:
"We are extremely proud to be the first cryptocurrency sponsor of Formula 1, joining a prestigious collection of brands supporting a sport with technology and innovation at its core.
"We look forward to many years of innovating together, and will begin at the Belgian Grand Prix where we will present a brand new award.
"We’re also excited to partner with F1 in the development of exclusive NFTs, connecting fans to the sport in new and innovative ways."